8,665 Shares in Atkore Inc. $ATKR Purchased by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP purchased 8,665 shares of Atkore Inc., valued at approximately $611,000, during the 2nd quarter.
• Atkore Inc. recently declared a quarterly dividend of $0.33 per share, representing an annualized yield of 1.9%.
• Current analyst sentiment on Atkore shows a consensus rating of "Hold" with an average price target of $79.57.

ARGA Investment Management LP acquired a new stake in Atkore Inc. (NYSE:ATKR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,665 shares of the company's stock, valued at approximately $611,000.

A number of other institutional investors also recently made changes to their positions in the company. Dogwood Wealth Management LLC bought a new stake in shares of Atkore in the second quarter valued at about $26,000. GAMMA Investing LLC lifted its stake in shares of Atkore by 1,514.7% in the 1st quarter. GAMMA Investing LLC now owns 549 shares of the company's stock valued at $33,000 after acquiring an additional 515 shares during the last quarter. Strs Ohio bought a new position in Atkore in the 1st quarter valued at approximately $36,000. New Age Alpha Advisors LLC acquired a new stake in Atkore in the first quarter valued at $37,000. Finally, Jones Financial Companies Lllp lifted its stake in shares of Atkore by 61.8% in the first quarter. Jones Financial Companies Lllp now owns 644 shares of the company's stock worth $39,000 after acquiring an additional 246 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently commented on ATKR. Weiss Ratings restated a "hold (c-)" rating on shares of Atkore in a research report on Wednesday, October 8th. KeyCorp reissued a "sector weight" rating on shares of Atkore in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Atkore has a consensus rating of "Hold" and an average price target of $79.57.

Atkore Stock Up 2.6%

ATKR opened at $67.83 on Friday. The company has a fifty day moving average price of $61.29 and a 200-day moving average price of $65.14. The firm has a market capitalization of $2.28 billion, a P/E ratio of 21.74 and a beta of 2.13. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.09 and a quick ratio of 2.08. Atkore Inc. has a one year low of $49.92 and a one year high of $105.28.

Atkore Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 19th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, August 19th. Atkore's payout ratio is 42.31%.

Insider Buying and Selling at Atkore

In related news, insider Mark F. Lamps sold 1,000 shares of the business's stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $59.37, for a total transaction of $59,370.00. Following the transaction, the insider owned 31,873 shares in the company, valued at $1,892,300.01. The trade was a 3.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.99% of the company's stock.

Atkore Company Profile

Atkore Inc engages in the manufacture and sale of electrical, mechanical, safety, and infrastructure products and solutions in the United States and internationally. The company offers conduits, cables, and installation accessories. It also designs and manufactures protection and reliability solutions for critical infrastructure, such as metal framing, mechanical pipe, perimeter security, and cable management.

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